As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business (P&B) Report since August 2019. The P&B Report provides analyses of plenary sessions of the National Assembly, as well as standing committee and subcommittee meetings. In addition, the firm has been co-hosting the Future Leaders Forum with the Herald Business, inviting chairpersons of standing committees to discuss relevant legislative issues and tasks.
As an extension of this service, DR & AJU has also been issuing the Weekly Legislative Report, which covers various legal issues at the center of public debate along with editorials and columns on the Serious Accidents Punishment Act (“SAPA”) from major daily news outlets. The report will be released with an update on newly proposed or pending bills. Enclosed is this week’s legislative report, and please refer to the P&B Report for further details.
If you wish to subscribe to the P&B Report or have any other queries, please contact us at lc@draju.com.
1. Proposed Bill(s)
① Partial Amendment to the Personal Information Protection Act
This Amendment allows for the imposition of a penalty surcharge of up to 10% of a company’s total sales in the event of personal data breaches caused by hacking, etc.
② Partial Amendment to the Promotion of the Motion Pictures and Video Products Act
This Amendment requires that a film may be distributed on other platforms, such as OTT services, only after a period of six months has passed since the completion of its theatrical run.
2. Pending Bill(s)
③ Special Act on Strengthening the Competitiveness of the Steel Industry and Transition to Green Steel Technology
This Bill provides for the establishment of the Special Committee for Strengthening the Competitiveness of the Steel Industry under the President; the expansion of infrastructure and provision of tax incentives to enhance the competitiveness of the steel industry; the tightening of restrictions on the import and distribution of nonconforming steel products and the strengthening of responses to unfair trade practices; the designation of Green Steel Zones and the granting of special regulatory exemptions for such zones; and the provision of support for the development of green steel technologies.
3. Promulgated Bill(s)
④ Trade Union and Labor Relations Adjustment Act
This Bill expands the scope of employers and the subject of industrial disputes, while limiting corporate damages claims against striking workers.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Act on Restriction on Special Cases Concerning Taxation
This Amendment reinforces tax credits for national strategic technologies, including AI, and expands tax incentives for real estate in depopulated areas.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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